BCPG Plc, Bangchak Group’s power generation subsidiary, is planning to divest all its nine solar farms in Japan, in a strategic move to revamp its long-term investment in renewable energy. The assets on sale include equity worth 6.93 billion baht and net debt totalling 3.44 billion baht.
The company has entered into an asset purchase agreement with Danish renewable energy investment firm Obton, with the transaction expected to conclude by the first quarter of next year, stated Niwat Adirek, who holds the positions of both president and CEO at BCPG.
“The funds generated from our exit [from Japan] will be channelled into other renewable projects to boost our swift expansion.”
The solar farms on sale have a combined capacity of 117 megawatts, with 104MW from operational farms and 13MW from those currently under development. Niwat noted that…
